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Biotech / Medical : IMNR - Immune Response -- Ignore unavailable to you. Want to Upgrade?

To: Guy Gadois who wrote (1267)	1/28/1999 11:29:00 AM
From: Bob Walsh	Read Replies (1) \| Respond to of 1510

The Immune Response Corporation Announces Fourth Quarter And Year-End 1998 Financial Results CARLSBAD, Calif., Jan. 28 /PRNewswire/ -- The Immune Response Corporation (Nasdaq: IMNR - news) today announced its financial results for the fourth quarter and year ended December 31, 1998. The net loss for the fourth quarter of 1998 was $6,167,000 or $.26 per share, compared to a net loss of $8,774,000, or $.38 per share, reported for the fourth quarter of 1997. For the year ended December 31, 1998, the net loss of $18,062,000 or $.78 per share, compared to a net loss of $33,557,000, or $1.53 per share during the same period in 1997. Revenues for the twelve months ended December 31, 1998, include $14.2 million received from Agouron Pharmaceuticals, Inc., in conjunction with a collaboration to complete the development and commercialize REMUNE(TM), an immune-based therapy currently under investigation for the treatment of HIV infection. For the twelve months ended December 31, 1998, the net loss, excluding the impact of the Agouron transaction, would have resulted in a pro forma loss of $1.39 per share. Total operating expenses in the fourth quarter of 1998 increased to $10,116,000 from $9,342,000 in the fourth quarter of 1997. Total operating expenses for the year ended December 31, 1998, were $37,403,000 compared to $37,994,000 during the year ended December 31, 1997. The Immune Response Corporation is a biopharmaceutical company based in Carlsbad, California, developing immune-based therapies to induce specific T cell responses for the treatment of HIV, autoimmune diseases and cancer. The Company is conducting clinical trials for its immune-based therapies for HIV, rheumatoid arthritis, psoriasis, multiple sclerosis, colon cancer and brain cancer and preclinical studies for melanoma and prostate cancers. In addition, the Company is developing a targeted delivery technology for gene therapy which is designed to enable the intravenous injection of genes for delivery directly to the liver. The Company's gene therapy program is currently focused on diseases of the liver and is in preclinical studies for the treatment of hemophilia and hepatitis.